SmallGovTimes.com

By: Libertarian Party | Published on 01/25/08    

A $145 billion dollar stimulus package called for by President Bush is more for show than solving current economic woes, says the Libertarian Party. "The President's economic stimulus plan fails to address the real mechanisms for economic growth," says Libertarian Party Executive Director Shane Cory.

"The proposed package is nothing but a multi-billion dollar dog and pony show," says Cory. "It's a cash advance on taxes not yet paid, which passes the debt to future taxpayers. It's not good for the economy, and it won't help."

The proposed economic stimulus package provides tax rebates with the hope that the money is injected into the economy by consumer spending. Bush has called the package a "short-term" solution to economic troubles. The price tag of the stimulus package is expected to range between $140 to $145 billion dollars.

"The government operates much too slowly for these so called 'short-term' solutions to have any impact," says Andrew Davis, national media coordinator for the Libertarian Party. "By the time the government acts, their reason for acting has come and gone. Instead, the government should be focusing on long-term stimuli like reduction in personal income taxes or capital gains taxes, which truly encourage business investment and growth."

The Libertarian Party suggests that cutting taxes that discourage business investment is the best solution to an economic slowdown. However, the Libertarian Party says that cuts in spending must match tax cuts, or else the government will continue to take on debt. Under the Bush administration, this has yet to happen.

"What we don't want to see is the government scrambling for solutions that make the problems worse," Cory concludes. "We should be focused on real solutions and not just window dressing."

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